Hey Lawrence, What about Gold futures where for almost 20 years I believe commercial traders are net short & large specs are net long similar size? So commercial side is the "stupid" one? Imagine if & when they decide to cover? Jeez!!! No Hunts this time like in silver. Walayat does suggest that they will be forced to raise short term IRs whilst keeping long term rates low ie deflate assets & inflate economy (QE + higher interest rates)
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Then please, do so! You see, Wave saw I giant trade taking place at 1185 and thought, hm, "they" are selling, I better sell too. I saw the same thing and I thought hm, "they" are buying and I bought. Who was right? Glass half empty or half full?
commercial have to sell. they have a business to net sell. and they delivery the physical so net sell is normal for them. it is the nature of all instruments that are "consumed".
Wave is telling you that sell signals on higher timeframe will start to work from that point. Not that you better sell too. There is a big difference.
Forward selling is not to the best interest of these firms, but it certainty lock in profit for these companies and in turn the bonuses for the executives.
Mr Topstep "...buy every dip..." http://www.youtube.com/watch?v=RT9CX9KzXAA&feature=youtube_gdata_player
Unfortunately this could be one of those 'once in a year' drubbings as I recall it flew straight to 1217 without any 'relief'....a stinker of a day for any counter trend traders.... NiN